Exxon fully withdraws from Russia after Putin seizes assets

[TheProle]

Exxon Mobil on Monday said it has fully exited Russia, with the energy giant saying that President Vladimir Putin had expropriated its assets in the country and "unilaterally terminated" the company's Sakhalin-1 oil project.

"With two decrees, the Russian government has unilaterally terminated our interests in Sakhalin-1, and the project has been transferred to a Russian operator," an Exxon Mobil spokeswoman said.

She didn't disclose whether Exxon received compensation for the assets, but added that Exxon plans to reserve its legal rights under international law and its production-sharing agreement to pursue remedies.

https://www.cbsnews.com/news/exxon-exits-russia-after-putin-expropriates-sakhalin-1-project/

[RussBLib]

1. And what makes ANY corporation think...

...that they would be somehow protected if the US ditches democracy and plugs in an autocrat/dictator? You MIGHT be safe if you give MILLIONS to the thugs, but it's no guarantee.

[Samrob]

4. I can really see Trump taking money from people and corporations for himself.

Ooops, sorry, I am being redundant. Corporations are people, right?

[TheBlackAdder]

5. Finding a successful fascist capitalist country is as rare as finding a successful Libertarian one🦄

[KS Toronado]

7. How about "as rare as finding the Ark of the Covenant"?

[Historic NY]

2. Good .

[dchill]

3. What a sad story not.

[ZonkerHarris]

6. no honor among thieves. eh?

[Better Days Ahoy]

8. Good luck with that, Exxon.

Can't say I'm crying for this callous environmental fuck-up. Now you're fucked.

[Tom Rinaldo]

9. "Withdraws" is giving Exxon too much credit

Sounds sort of like "The Casino took all my chips so I withdrew from the poker game."